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The Nasdaq Golden Dragon China Index initially fell by 0.2%. Among popular Chinese concept stocks, New Oriental initially fell by 6.6%, Li Auto dropped by 4.1%, JD.com, Pony AI, Bilibili, TSMC ADR, Alibaba, and XPeng fell by up to 1.5%. Tencent, NetEase, Baidu, Xiaomi, and Yum China rose by up to 1.7%, while Pinduoduo rose by 2.4% and Nio rose by 2.6%